Euro rebounds as French bond yields fall
The euro rose 0.35% to $1.126, putting it on course for its largest daily advance since August 19, while the dollar weakened.
Asian stocks rise after Nasdaq record as Treasury yields remain elevated
Japan’s Nikkei gained 1.1% and Hong Kong’s Hang Seng rose 0.7%, while U.S. government bond yields stayed near 24-year highs.
Asian equities mostly advanced on October 6 following a record finish for the Nasdaq, although U.S. Treasury yields remained near their highest levels in 24 years. Japan’s Nikkei rose 1.1%, while Hong Kong’s Hang Seng added 0.7%.
The gains were not uniform: MSCI’s Asia-Pacific index excluding Japan was unchanged, and South Korean stocks lost nearly 1% as trading resumed after a holiday. European stock futures gained 0.3%, with Nasdaq futures up 0.2% and S&P 500 futures rising 0.1%.
Technology shares led the preceding U.S. session. Nvidia gained 2.1% to finish at a record, bringing its market value to $5.76 trillion. Kyle Rodda, a senior analyst at Capital.com, said reduced uncertainty over interest rates and some easing of geopolitical risk had allowed investors to concentrate on earnings growth among AI companies.
Weaker-than-expected jobs figures reduced expectations of a Federal Reserve rate increase in October. Market bets on an increase fell to 23% from 71% a week earlier, after senior policymakers emphasized that they needed additional data before raising rates again.
Longer-term borrowing costs nevertheless stayed elevated amid inflation and debt concerns. In Asian trading, the 10-year Treasury yield stood at 5.3154%, following an overnight peak of 5.3493%. The 30-year yield was 5.6749%, after briefly reaching 5.7029%.
The euro traded at $1.1215 after touching $1.116 overnight, its weakest level since May 2025, amid French fiscal concerns. Brent crude recovered 0.6% to $100.88 a barrel after a 1.9% decline in the preceding session. Spot gold fell 0.4% to $4,121.75 an ounce.